With 15 states banning payday loans, a growing number of the lenders have set up online operations in more hospitable states or far-flung locales like Belize, Malta and the West Indies to more easily evade statewide caps on interest rates.

While the banks, which include giants like JPMorgan Chase, Bank of America and Wells Fargo, do not make the loans, they are a critical link for the lenders, enabling the lenders to withdraw payments automatically from borrowers’ bank accounts, even in states where the loans are banned entirely. In some cases, the banks allow lenders to tap checking accounts even after the customers have begged them to stop the withdrawals.

“Without the assistance of the banks in processing and sending electronic funds, these lenders simply couldn’t operate,” said Josh Zinner, co-director of the Neighborhood Economic Development Advocacy Project, which works with community groups in New York.

2. Great question. n/t

4. Answer: Never.

Take the overdraft fees for example, they really mess with people who dont understand them or like my mother who is elderly and now had trouble remembering when she signed a check so last year she overdrafted about 30 to 40 checks which at 35 bucks a pop each caused a number of problems which we only now have managed to resolve.

8. It is because

the Banks are sharing the profits for over drafts and other fees. If the consumer broke the law, the Banks would freeze their account, but they will honor any transaction if pay day lenders broke laws. They would allow the illegal transactions to continue in order to increase the debt to the consumer. The consumer has no authority over his or her account. These big banks are just monopolies too. They are no different than people that form Unions. That is the problem with privatization. If you get a small group of investors to control everything, then they can theoretically control the entire market by setting agreements. Pay day lenders are the same way. They can make agreements with Banks to screw the consumer. In turn, they all make profits unless the Government steps in to control them or protect the little guy. America's biggest threat is not Socialism but Vulture Capitalists.

12. These bankers deserve to be in prison

15. How?..the government has allowed this illegal activity go on...

Example I have a direct deposit that is always on time and even when the 1st falls on a Sat or Sunday my direct deposit is made on the Friday before...Well ....Wells Fargo has gotten in the habit of holding my deposit for at least two days or longer in order to set me up for overdraft charges.....(since direct withdrawals are scheduled a day or two after deposit) I filed a complaint with the FTC and guess how far that went?......yes I am switching to credit union....